Foster Denovo has appointed W1M, formally Waverton Investment Management, to manage its Sequel Growth Target Return fund.

The private wealth and corporate advisory group chose the Waverton investment team to oversee one of its five Sequel funds, which are part of its wider portfolio of £1.7bn of assets under management (AUM).

W1M took over the Sequel mandate in Q4 2024, and has a track record spanning four decades and AUM of more than £21bn.

Foster Denovo appointed State Steet Global Advisors (SSGA) to manage an additional two Sequel funds in April 2025, doubling the number of funds the asset manager oversees since its initial mandate in 2023.

SSGA manages the Sequel Cautious, Balanced Target Return, World Equity, and Real Assets Diversified funds, while W1M will now manage the fifth Sequel fund, the Sequel Growth Target Return fund.

Commenting on the appointment, Foster Denovo head of investments, Chris Thomas, said: “Our private wealth and corporate advisory clients will benefit from the depth and sophistication W1M offers and we look forward to a fruitful partnership and positive progress.”

W1M co-head of multi-asset strategies and Waverton multi-asset funds lead manager, James Mee, added: “The partnership is testament to both the consistency of risk-adjusted performance our funds have generated over decades and the mandate flexibility we can offer investors.”

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